The Goldman Sachs Group (NYSE:GS) Price Target Cut to $594.00 by Analysts at Evercore ISI

The Goldman Sachs Group (NYSE:GS) had its price target reduced by Evercore ISI from $660.00 to $594.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

Several other equities analysts also recently issued reports on GS. Wells Fargo & Company reduced their price objective on shares of The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. UBS Group increased their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. Oppenheimer downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $591.87.

The Goldman Sachs Group Trading Up 0.4 %

Shares of The Goldman Sachs Group stock opened at $548.52 on Tuesday. The Goldman Sachs Group has a 1 year low of $387.12 and a 1 year high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day moving average price of $604.83 and a 200 day moving average price of $573.37. The company has a market capitalization of $171.16 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same quarter last year, the company earned $5.48 earnings per share. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were given a dividend of $3.00 per share. The ex-dividend date was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.19%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the transaction, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin R. Johnson purchased 2,400 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the purchase, the director now directly owns 2,400 shares in the company, valued at $1,485,648. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 19,925 shares of company stock valued at $12,630,683 over the last three months. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Stephens Consulting LLC bought a new position in The Goldman Sachs Group during the 4th quarter valued at $26,000. Asset Planning Inc acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $29,000. Curio Wealth LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $30,000. Transce3nd LLC acquired a new position in The Goldman Sachs Group in the fourth quarter worth about $31,000. Finally, Mascagni Wealth Management Inc. bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.